How Cary Lagdameo Grew Damosa Land, Inc. Into Davao’s Leading Developer
Cary Lagdameo, President of Damosa Land, Inc. Shares How the Region’s Leading Developer Is Realizing Its Vision for the Future
Entrepreneurs are often part opportunity hunter, part service-oriented problem solver, and part visionary. Cary Lagdameo, the young president of Davao-based Damosa Land, Inc. (DLI), embodies all of these aspects of the entrepreneur. While he heads the construction and real estate arm of his family’s decades-old diversified business interests, he has the spirit of an entrepreneur–simultaneously playing the roles of innovator, problem solver and visionary.
As an innovator, Cary Lagdameo leads Damosa Land into unique developments such as the Agriya “agropolis”–a mixed-use agricultural metropolis–as well as Damosa Diamond Tower, the region’s first EDGE-certified, green building. As a visionary, he is building a future for the promising yet under-served region of Davao and the greater Mindanao area.
At the same time, he is a practical real estate developer devoted to the communities his company works in. And while Damosa Land is far greater in scale than a startup, he has the underdog spirit of scrappy and hungry startups: young and undaunted by the prospects of making a real difference.
The Business Manual spoke to Cary Lagdameo in his Manila residence where he shared with us how he evolved into becoming an instrumental figure in the real estate development scene. It is his leadership, grounded in both his family legacy and his ability to identify key opportunities, that has allowed Damosa Land to become a key player in Mindanao's–and the Philippines’– growing economy.
Land of Opportunity
Davao is a land of opportunity. On demographics alone, it possesses the perfect confluence of growth factors sought after by economists and businessmen. In population, the Davao region–which consists of the provinces Davao de Oro, Davao del Norte, Davao Oriental, Davao del Sur, Davao Occidental, and Davao City–has over 5 million people, with almost 2 million living in highly-urbanized Davao City, the second most populous city in the country after Quezon City. The region is young and growing, with a GRDP (Gross Regional Domestic Product) of 8.9%. And it is here, rather than the North, where Damosa Land is making a difference.
For those unfamiliar with Davao’s potential, Lagdameo explains that the region serves as a strategic hub for a diverse range of industries in Mindanao. While many associate Mindanao with agriculture, Davao has developed a multifaceted economy that includes agribusiness, tourism, manufacturing, and BPOs. "Davao City is one of the hottest areas for BPOs, real estate, and banking," Lagdameo points out.
The Davao region’s importance as a trading hub cannot be understated, as its port is one of the busiest in the country. “For an investor looking at Davao, there’s something for everyone here,” he adds. The region’s diversity of industries offers opportunities in everything from large-scale farming and tourism to manufacturing and services, with Davao City emerging as a center for commerce and industry.
Damosa Land has seized this Davao opportunity. In industry, the company built the Anflo Industrial Park, the first of its kind in the region. In offices and commercial space, Damosa Land is the leading provider of office space solutions in Mindanao. It has also built innovative mixed-use projects such as the 88-hectare Agriya Agropolis (agricultural metropolis), residential projects, and entire townships.
The Davao Decision
Lagdameo’s decision to base his career in Davao, with Damosa Land, was both personal and strategic. Despite opportunities both abroad and in Manila, he chose to stay in Davao City, where his family's business roots run deep.
Reflecting on the early days of his career, Lagdameo notes how the city had already begun to show signs of substantial growth when he returned 12 years ago. “Davao was on a growth trajectory, and I saw that there was so much more opportunity here,” he recalls. Compared to other urban centers like Cebu and Manila, Davao still had significant room to expand, and Lagdameo wanted to be part of that journey.
Over the years, Davao City has evolved into a more cosmopolitan hub. This change was not only visible but palpable—Lagdameo saw the city becoming an exciting place to be, with its business and cultural landscape rapidly diversifying. “I wanted to be a part of that,” he says.
Lagdameo joined Damosa Land over a decade ago, in 2014. When he started, the company was already well-established in real estate, but he was tasked with scaling the business further.
“I had to learn the ins and outs of real estate, from the technical aspects to financing and marketing,” shares the US-educated Lagdameo, a graduate of Columbia University where he holds a Masters in Business Administration. His finance background gave him an edge in identifying new funding strategies for their projects, while his focus on marketing helped establish the company’s identity in the competitive Davao real estate market.
“I was fortunate to have great mentors, and that’s how I learned the ropes,” he explains.
In 2021, Cary Lagdameo was named president of the Real Estate and Construction Group of the Anflo Group of Companies, which includes Damosa Land, Inc. And today, confident in his leadership, he has navigated DLI through its 20th year as a prominent real estate player in the region.
From Family Legacy to Real Estate Pioneer
Damosa Land's history is deeply tied to Lagdameo’s family roots. Cary Lagdameo’s grandfather, Antonio O. Floirendo Sr., introduced Ford vehicles to Mindanao in the aftermath of World War II by founding Davao Motor Sales (Damosa). This business grew quickly, serving the agricultural, mining, and logging industries of its time with a variety of Ford vehicles.
Eventually, Ford withdrew from the Philippines in the 1980s. Faced with this challenge, the family pivoted towards real estate, using the land assets accumulated from dealerships and warehouses to fuel their expansion into property development.
“We used that land bank,” Lagdameo says, “and we turned those properties into productive real estate projects from commercial to residential, industrial, and all sorts of different kinds of real estate properties.”
There was no turning back from there, and the company’s reinvigorated direction opened up a world of new opportunities as a developer of communities.
“Damosa has always been in Davao,” Lagdameo reflects. It’s a legacy that spans several decades, and he is proud to be continuing that tradition through his work with Damosa Land.
Damosa Land’s Vision for the Future
Under Lagdameo’s leadership, Damosa Land is poised for continued growth. The company has a strong pipeline of residential, commercial, and industrial projects that cater to Davao's expanding economy. With Davao increasingly becoming a prime investment destination, Lagdameo is focused on keeping Damosa Land at the forefront of the region’s development.
“Davao’s future is bright, and we’re excited to be a part of that,” he concludes. As the region continues to grow, Lagdameo’s commitment to expanding Damosa Land’s footprint remains unwavering. His leadership, fueled by a mix of tradition, innovation, and a keen understanding of the market, positions Damosa Land for sustained success in the years to come.
Despite facing stiff competition from national developers, Damosa Land has carved out a distinct identity in the Davao region. The company, which was founded just 20 years ago, was determined not to follow a “cookie-cutter” approach to its projects. Rather than replicating designs that other developers have used, Damosa Land focuses on unique, high-quality projects that integrate elements of Mindanao’s agricultural heritage while keeping a keen eye on the future.
“We don’t follow a cookie-cutter template,” Lagdameo says. “Each project has personal touches that reflect the DNA of the business, which includes integrating agriculture.” For example, the company’s industrial parks and residential townships feature working farms, farm tourism parks, and even a shrimp farm. This agricultural integration reflects not only the region’s primary industry but also Damosa Land’s deep commitment to sustainability and local communities.
